Initially dormant and calm, trading on the Zagreb Stock Exchange intensified by the end of last week, with the Crobex index rising sharply, and the focus of investors was primarily on T-HT shares.
The Crobex strengthened during this period by 6.33 percent, reaching 1,831 points, surpassing the psychologically significant threshold of 1,800 points for the first time since November 19 last year. Regular trading volume amounted to 128.3 million kuna, with most of it realized on Friday – 48.3 million kuna.
"During the next week, we expect to maintain relatively low trading volumes, with the focus of investors continuing to be on the most liquid issues, such as T-HT, as well as shares from the construction and shipping sectors," says Goran Nimac, an analyst in the Economic Research Department of Hypo Alpe Adria Group. In terms of liquidity and price increase last week, T-HT shares stand out. They recorded a turnover of 37.2 million kuna, and their price rose by 9.43 percent to 218 kuna.
As analysts point out, the trigger for increased trading in this stock was the news about the postponement of the privatization of HT Mostar. Namely, the investment public has been discussing the need to restructure T-HT’s balance sheet for some time, with the possible application of three models – the payment of an extraordinary dividend, the purchase of treasury shares, or a new acquisition. Excluding, at least for now, the acquisition of HT-Mostar, two possible ways remain to resolve the enormous cash position of that company, both of which positively affect the price of T-HT shares. The shares of Atlantska plovidba achieved nearly 25 million kuna in turnover, and their price jumped nearly 14 percent to 785 kuna.
